Regentatlantic Capital LLC Raises Stake in The Travelers Companies, Inc. (TRV)
Regentatlantic Capital LLC increased its stake in The Travelers Companies, Inc. (NYSE:TRV) by 1.0% during the second quarter, Holdings Channel reports. The fund owned 88,433 shares of the insurance provider’s stock after buying an additional 849 shares during the period. The Travelers Companies comprises about 1.0% of Regentatlantic Capital LLC’s investment portfolio, making the stock its 23rd largest position. Regentatlantic Capital LLC’s holdings in The Travelers Companies were worth $11,189,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in The Travelers Companies by 3.0% in the first quarter. Vanguard Group Inc. now owns 21,551,932 shares of the insurance provider’s stock valued at $2,597,871,000 after buying an additional 633,510 shares during the last quarter. BlackRock Inc. increased its position in The Travelers Companies by 2,395.6% in the first quarter. BlackRock Inc. now owns 20,403,051 shares of the insurance provider’s stock valued at $2,459,383,000 after buying an additional 19,585,476 shares during the last quarter. State Street Corp increased its position in The Travelers Companies by 1.6% in the first quarter. State Street Corp now owns 18,949,803 shares of the insurance provider’s stock valued at $2,284,205,000 after buying an additional 304,049 shares during the last quarter. FMR LLC increased its position in The Travelers Companies by 42.1% in the first quarter. FMR LLC now owns 6,596,545 shares of the insurance provider’s stock valued at $795,148,000 after buying an additional 1,954,573 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in The Travelers Companies by 9.4% in the first quarter. AQR Capital Management LLC now owns 3,026,207 shares of the insurance provider’s stock valued at $364,779,000 after buying an additional 260,838 shares during the last quarter. Institutional investors own 78.95% of the company’s stock.
Shares of The Travelers Companies, Inc. (NYSE TRV) traded down 0.339% during mid-day trading on Thursday, hitting $129.709. 871,796 shares of the stock traded hands. The firm has a market capitalization of $35.79 billion, a P/E ratio of 12.917 and a beta of 1.20. The Travelers Companies, Inc. has a one year low of $103.45 and a one year high of $130.18. The company’s 50 day moving average is $127.10 and its 200 day moving average is $123.01.
The Travelers Companies (NYSE:TRV) last posted its quarterly earnings results on Thursday, July 20th. The insurance provider reported $1.92 earnings per share for the quarter, missing analysts’ consensus estimates of $2.07 by $0.15. The Travelers Companies had a net margin of 10.15% and a return on equity of 11.68%. The company had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.31 billion. During the same quarter in the previous year, the business posted $2.20 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities analysts expect that The Travelers Companies, Inc. will post $8.92 EPS for the current fiscal year.
The Travelers Companies announced that its board has approved a stock repurchase program on Thursday, April 20th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the insurance provider to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be paid a $0.72 dividend. The ex-dividend date is Thursday, September 7th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.21%. The Travelers Companies’s payout ratio is currently 28.77%.
TRV has been the topic of several research reports. MKM Partners restated a “neutral” rating and set a $130.00 price objective (up previously from $115.00) on shares of The Travelers Companies in a report on Wednesday, July 26th. Argus upgraded shares of The Travelers Companies from a “hold” rating to a “buy” rating and set a $132.00 price objective on the stock in a report on Monday, April 24th. Royal Bank Of Canada restated a “buy” rating and set a $126.00 price objective on shares of The Travelers Companies in a report on Monday, May 22nd. Citigroup Inc. restated a “buy” rating and set a $148.00 price objective (down previously from $150.00) on shares of The Travelers Companies in a report on Monday, July 24th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $115.00 price objective on shares of The Travelers Companies in a report on Thursday, May 25th. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. The Travelers Companies has an average rating of “Hold” and an average target price of $123.79.
In other news, Vice Chairman William H. Heyman sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $123.48, for a total value of $864,360.00. Following the sale, the insider now directly owns 246,744 shares in the company, valued at approximately $30,467,949.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Vice Chairman William H. Heyman sold 24,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $126.64, for a total transaction of $3,039,360.00. Following the completion of the sale, the insider now owns 253,744 shares in the company, valued at $32,134,140.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 169,412 shares of company stock worth $21,473,565. 0.82% of the stock is currently owned by corporate insiders.
The Travelers Companies Company Profile
The Travelers Companies, Inc is a holding company. The Company’s segments include Business and International Insurance; Bond & Specialty Insurance, and Personal Insurance. Through its subsidiaries, it provides commercial and personal property and casualty insurance products and services. The Business and International Insurance segment offers property and casualty insurance and insurance related services to its clients, in the United States and in Canada, as well as in the United Kingdom, the Republic of Ireland, Brazil and throughout other parts of the world.
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